Profiting from Cryptocurrencies on 2018

Working with Masternodes, mining and staking pools

By coingawkblogger

Date Monday, October 22, 2018 - 12:17

Share this post:

If you are familiar with the Blockchain world, you’ll know it goes without saying that Cryptocurrency has opened huge doors for investors. With the potential of crypto becoming more recognisable each day, comes the growth of people who want to input their money into such a rapidly expanding marketplace. If you’re looking for the best ways to invest, and earn money from crypto, we’ve come up with a list of the most popular methods used to make profit on crypto.

Masternodes

Masternodes are now one of the main ways to reliably profit from cryptocurrencies and ar enow often used by cryptocurrency funds and blockchain venture capital firms, with less risk than ICO's and trading in the bear market of 2018. A masternode carries out specific tasks on a network and earns a share of the entire block reward. They generally use far less power than a node on say Bitcoin, but can deliver far greater rewards than mining. The caveat is that in order to be a trusted masternode, a significant amount of the network cryptocurrency must be staked.

Hodling

Buying low and selling high is by far the most popular trading technique used by both newbies, and the most experienced traders and crypto investors in the game. Opting for the cheapest coin is always tempting, but spending your time researching the most dependable coins is worth your while. With the growth of blockchain companies on the rise, the process of purchasing altcoins is extremely straightforward. However, as simple as the buy low, sell high strategy sounds, selecting a few of the most credible coins out of thousands, with the lowest cost, and highest potential can be time consuming, but definitely worth the time and money.

Mining

Cryptocurrency Mining is an extremely effective way to earn profit on cryptocurrencies and altcoins. All it takes is a coin wallet, a mining pool, a few graphics cards, a computer, and some patience. Altcoins are often ridiculously cheap in price, so although you may have to invest in mining equipment, its often gathering a wide range of the most credible altcoins won’t break the bank, and once their value increases, they could offer you a huge return. Remember, Bitcoin was once worth practically nothing.

Bounty Rewards

Crypto bounty rewards are usually offered as a part of an ICO campaign. An ICO will offer payment in their token for completing certain tasks for them, such as advertisement, articles and bug reporting. Bounty rewards are great for those who want to avoid investing real money and devote their time to earn crypto instead.

Staking Pools

Staking pools are great for those with a small amount of coins who want to regularly earn a few more tokens without investing huge amounts of time and money. Staking pools allows you to avoid purchasing expensive mining hardware such as high-powered GPUs and save you the hassle of constantly checking your internet connection to make sure they are still running. When it comes to selecting a staking pool, ideally you should go with a smaller stake number, as the returns are more frequent and reliable, and as much as a huge stake reward may intrigue your wallet, the returns are often irregular and undependable.

So, if you overlooked the opportunity to purchase the most valuable cryptocurrencies when they were at their lowest, you may think that you have missed out on your chances of ever becoming a crypto millionaire. However, with the endless ways to earn money from digital currencies, the possibility of getting into the crypto game and gaining profit is still high.